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Friday, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in the percentage of cancellations and delays witnessed. According to a recent report from shipbroker Intermodal, "at the same time for 2012 we have already seen around 53 vessels being delivered so far, while another 437 are scheduled for delivery till the end of the year. This is the majority of the current orderbook accounting for just over 72 percent of its total.
With the overcapacity issue having already made its presence felt in the first two months of 2012, it is anticipated that the percentage of orders being delayed or cancelled is likely to accelerate this year, greatly outpacing what was seen in 2011. However even taking a modest approach, whereby expecting an equal rate of cancellations and delays as last year, at least 140 of the vessels scheduled for delivery for 2012, are unlikely to have entered the water by the end of the year.
"Simultaneously, there has been a growing interest in the new Ultramax designs, were we have already seen 9 vessels delivered in 2010, 20 in 2011 and another 4 this year so far. With many owners now unwilling to further add to the growing overcapacity problem, new orders this year have mainly focused on designs that offer any cost advantage when compared to the already in service fleet. These new Ultramax designs have offered much improvement in fuel efficiency while adding further cargo capacity when compared to the typical supramax designs" said Intermodal’s George Dimitriadis.
He concluded by mentioning that “few owners however, seem convinced of the benefits they will bring and even more that they will not be much better off than the rest of the fleet in period of poor freight market conditions. The truth is that, parcel sizes are unlikely to change that soon to accommodate the larger carrying capacity, while on the fuel efficiency part it seems as though the difference in consumption is relatively small, while with the ever increasing bunker prices, we are likely to see newer designs offering much higher fuel economy” said Dimitriadis.
In a separate report from Intermodal, George Eliades examined the latest data from China. He said that “with recent estimates putting Chinese growth below the levels originally hoped for, the shipping markets have started to feel the strain. Having said that growth levels are still more bullish then what has been witnessed lately in the commodities market, while the China’s economic policy priority has remained to maintain relatively fast growth. The question that has arisen these past months is as to what extent Beijing is willing to guard against inflation risks in favour of measure to push for faster growth.
China’s reforms to rebalance its economy have gone way beyond the housing sector and will continue to be targeted towards achieving relatively fast growth and stable prices that should help total trade maintain double digit growth this year, according to a recent speech given by Vice Premier Li Keqiang. "We will make policies more targeted, flexible and forward-looking to maintain relatively fast economic growth and keep price levels basically stable," he said in a speech at an economic policy conference. Li said that there were some encouraging signs emerging about the pace of global economic recovery, and forecast that China's total trade would top $10 trillion in the five years 2011-2015, but added that the outlook was not certain, with efforts to resolve Europe's debt crisis still evolving.
How does this translate for the shipping sector? “Well fears of a slowdown in China’s growth coupled with the poor performance of the US and European economies has already been well reflected in the dry commodities trade. Overall it has proven to be a slow start to the year. At the same time one must take into consideration that the market has fared considerably well if one takes into account the fact that we are undergoing a considerable increase in the number of vessels, while the intense stockpiling that went on before the start of the New year has led to a below average demand for cargoes in the first quarter. Having said that, with China’s policies now directly set to boost its trade growth, America showing signs of a slow but steady recovery and Europe looking to have smoothed out most of its major sovereign debt problems, dry bulk trade could start to pick up once again over the next quarter and although the oversupply issue continues, a more positive outlook maybe in the works after all” concluded Eliades.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
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- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
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